Jun 14, 2013 13-11

HERO Program – Down Payment Assistance (“DPA”) Policy Revision

HERO DPA Policy Revision

Due to adverse market conditions and the resultant cost associated with providing DPA in conjunction with the HERO Program, MFA is reducing the amount of DPA offered on the HERO Program from 3.5% of the loan amount to 3.0% of the loan amount.

The change will apply to loan reservations made after 8:00 AM on June 17, 2013.

As market conditions improve, MFA will review and may increase the amount of DPA provided for the HERO program, in accordance with program policy,           

Thank you for participating in MFA’s program.  Should you have any questions, please contact an MFA Homeownership Representative at 1-800-444-6880 or 505-843-6880